Nigeria: Why Nigeria Is Borrowing Despite Subsidy Removal - Budget Office

The Budget Office of the Federation has said Nigeria's continued borrowing to fund its budget should not be seen as a weakness, noting that many countries rely on borrowing to bridge fiscal gaps.

The Director of Expenditure (Social), Yusuf Muhammed Kurawa, stated this in Kano shortly after giving out his daughters, Hassana and Fatima, in marriage over the weekend.

"There's nothing bad about borrowing. Countries all over the world borrow. What matters is how it is managed. Nigerians should remain patient; the President is on top of the situation," he said.

Kurawa identified fiscal constraints as a major challenge in Nigeria's budget cycle but expressed optimism that ongoing reforms by the administration of President Bola Ahmed Tinubu are beginning to yield results.

He stressed the importance of the budget, describing it as the most critical document after the constitution.

"After the constitution, the next most important document is the budget. We are meticulous in the Budget Office. Everything is on course," he added.

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